Taiwan hails its ‘best’ trade deal with US, as China protests

Taiwan’s premier has hailed a new trade deal with the United States as the “best tariff deal” enjoyed by countries with trade surpluses with Washington, while an official in Beijing condemned the accord. Taiwan's Premier Cho Jung-tai said Friday the deal shows the U.S. sees Taiwan as “an important strategic partner.” The agreement cuts tariffs on Taiwanese goods to 15% in exchange for $250 billion in new investments in the U.S. tech industry. It is comparable to deals with the European Union and Japan worked out after President Donald Trump proposed sweeping tariffs for many U.S. trading partners. The U.S. also agreed to a one-year trade truce with China to stabilize the countries’ ties.